Amarillo Gold Corp.
NEX BOARD : AGC.H

Amarillo Gold Corp.

July 22, 2005 15:06 ET

Amarillo Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 22, 2005) - Amarillo Gold Corp ("Amarillo") (NEX:AGC.H) announces that it has closed a private placement of 724,500 units at a price of $0.20 per unit for proceeds to the Company of $144,900. Each unit consists of one common share and one non-transferable share purchase warrant entitling the holder to purchase an additional common share at a price of $0.30 for one year. The shares will be subject to a hold period that will expire on November 14, 2005. There are no finder's fees payable.

The proceeds of the private placement will be used for general working capital.

ON BEHALF OF THE BOARD OF DIRECTORS

AMARILLO GOLD CORP.

Per: Buddy Doyle, President

The NEX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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